Canadian Solar completed €30 million green bond

Canadian Solar Inc. announced that it's subsidiary Canadian Solar EMEA Capital Markets, S.A.U. has completed a €30 million green bond issuance in the Spanish multilateral trading facility (MTF) for debt securities (MARF). The notes are guaranteed by the company and qualify as »green bonds« pursuant to the International Capital Market Association (ICMA) Green Bond Principles and the Green Financing Framework adopted by the Company in Europe, Middle East and Africa, or EMEA region.
The notes were offered and sold only to non-U.S. persons outside the United States a unit face value of €100,000 each. They have a tenor of five years and a coupon of 4.0 percent. As reported, Canadian Solar targets to raise funds over the next twelve months valued €100 million. With the proceeds, Canadian Solar aims to support the growth, development and construction of its solar PV and battery storage portfolio in EMEA, currently at 4.6 GW and 2.0 GWh respectively.

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